Central Bank conducted inspections regarding the money laundering act by Iran National Bank’s Baku branch, said Taleh Kazimov, Chairman of the Central Bank of Azerbaijan at the press conference regarding the determination of the parameters of the interest rate corridor, APA-Economics reports.
He stated that some defects have been revealed and restrictions have been made on some services: "We have revealed some defects. Some relevant operations have been restricted. Closing of the bank is not considered, the Bank answers to normative demands and does not pose a risk to the financing sector. The Bank can resume its activity after the revealed defects are eliminated,” Kazimov said.
It was noted that the inspections were made on legalizations of money gained by illegal ways and application of Azerbaijani legislation.
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